Islamic banking or Islamic finance (Arabic: مصرفية إسلامية) or sharia-compliant finance[1] is banking or financing activity that complies with sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic banking/finance include Mudarabah (profit-sharing and loss-bearing), Wadiah (safekeeping), Musharaka (joint venture), Murabahah (cost-plus), and Ijara (leasing).
The Qur’an prohibits riba, which literally means “increase”. Technically riba is the increase when liquid or fungible assets (cash, debt, grains, etc.) are exchanged other than at par value. The most prevalent example in today’s economy is lending money at interest, for example an exchange of $100 cash now for $110 payable in a year’s time, an increase of $10. (Some Muslims dispute whether there is a consensus that interest is equivalent to riba). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also haraam (“restricted, or excluded”).
Course Curriculum
Islamic Banking and Finance | |||
Chapter One | |||
Welcome to Islamic banking and finance Details | 00:00:00 | ||
Chapter 01 Part 01 Details | 00:00:00 | ||
Chapter 01 Part 02 Details | 00:00:00 | ||
Chapter 01 Part 03 Details | 00:00:00 | ||
Chapter 01 Part 04 Details | 00:00:00 | ||
Chapter 01 Part 05 Details | 00:00:00 | ||
Chapter 01 Part 06 Details | 00:00:00 | ||
Chapter 01 Part 07 Details | 00:00:00 | ||
Chapter Two | |||
Chapter 02 Part 01 Details | 00:00:00 | ||
Chapter 02 Part 02 Details | 00:00:00 | ||
Chapter 02 Part 03 Details | 00:00:00 | ||
Chapter Three | |||
Chapter 03 Part 01 Details | 00:00:00 | ||
Chapter 03 Part 02 Details | 00:00:00 | ||
Chapter 03 Part 03 Details | 00:00:00 | ||
Chapter 03 Part 04 Details | 00:00:00 | ||
Chapter 03 Part 05 Details | 00:00:00 | ||
Chapter 03 Part 06 Details | 00:00:00 | ||
Chapter 03 Part 07 Details | 00:00:00 | ||
Chapter 03 Part 08 Details | 00:00:00 | ||
Chapter Four | |||
Chapter 04 Part 01 Details | 00:00:00 | ||
Chapter 04 Part 02 Details | 00:00:00 | ||
Chapter 04 Part 03 Details | 00:00:00 | ||
Chapter 04 Part 04 Details | 00:00:00 | ||
Chapter 04 Part 05 Details | 00:00:00 | ||
Chapter 04 Part 06 Details | 00:00:00 | ||
Chapter Five | |||
Chapter 05 Part 01 Details | 00:00:00 | ||
Chapter 05 Part 02 Details | 00:00:00 | ||
Chapter 05 Part 03 Details | 00:00:00 | ||
Chapter 05 Part 04 Details | 00:00:00 | ||
Chapter 05 Part 05 Details | 00:00:00 | ||
Chapter 05 Part 06 Details | 00:00:00 | ||
Chapter 05 Part 07 Details | 00:00:00 | ||
Chapter 05 Part 08 Details | 00:00:00 | ||
Chapter 05 Part 09 Details | 00:00:00 |
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